Exploring the Future of Peanut: Trends & Projections for 2024Â
The peanut market is a substantial segment of the agricultural industry, characterized by its wide usage in food products, oil production, and as a source of plant-based protein. Peanuts are one of the world’s most cultivated and consumed nuts, with major producers like China, India, and the United States contributing significantly to global output.Â
| Peanut Market Statistics (2024) | Predictions and Insights | Source |
|---|---|---|
| 1. In 2022, Argentina exported peanuts worth 793 million USD worldwide. | With the rising global demand for plant-based proteins, Argentina’s peanut exports will likely grow, potentially surpassing $800 million in the coming years. | Contact us to view the source. |
| 2. In 2022, China produced approximately 18.4 million metric tons, accounting for nearly one-third of the world’s total peanut production. | China’s dominant share in global peanut production highlights its critical role in stabilizing peanut supply and influencing global market prices. | Contact us to view the source. |
| 3. Approximately 48 million metric tons of peanuts are consumed globally each year, and the number is expected to rise to nearly 49 million metric tons by 2026. | Global peanut consumption is projected to continue its steady rise, driven by increasing demand for healthy, plant-based foods and protein-rich snacks. | Contact us to view the source. |
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Peanut Market – Key Takeaways
The peanut market is poised for continued growth, underpinned by increasing consumption trends and a shift toward plant-based and health-focused foods. Despite climate-related supply fluctuations and the need for sustainable production practices, the market shows resilience and adaptability. Strategic innovations, such as product diversification and premium offerings, will likely drive future growth and create new opportunities across the supply chain.